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The Worst Unemployment Chart In The World

[When the economy reached a state of stag-flation in the 1970s it was all over for Keynesian economics. Now we have a new phenomenon - a flat-lined economy with permanently high unemployment (stag-ployment?). Is it all over for neoliberalism and austerity? The Financial Times today also reports that European inflation is less than 1% - yippee for the wealthy. *RON*]

We've said it before, and we'll say it again. This chart of Eurozone unemployment is the worst in the world.

It's not that it's getting worse (it's not) it's that in the midst of what should be a "recovery" for the Eurozone, it's just going nowhere.

Once again, according to Eurostat, unemployment refuses to budge at 12.0%. So the economy is flatlining — marginally improved from its worst levels, but really not showing any traction at all. There's an ECB meeting next week. Will they do anything?

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